Air NZ looking to sell some/all of stake in VA

[Comoman]

See the attached:

http://www.asx.com.au/asxpdf/20160330/pdf/4364z94bz179bw.pdf

Not good I don't think for VA....

 

[Dannyism]

Air New Zealand may ditch Virgin Australia shareholding - Business - ABC News (Australian Broadcasting Corporation)

Another source.

There is a discussion in the credit cards promotion thread about VA's cashflow/liquidity issues. My bet is we can expect some changes...

 

[Comoman]

My prediction - VA to go private (owned by Etihad, SQ, Virgin etc) or private equity takeover.

I'm carefully monitoring my Velocity points balance....

 

[TSOOBI]

My prediction - VA to go private (owned by Etihad, SQ, Virgin etc) or private equity takeover.

I'm carefully monitoring my Velocity points balance....

I am also watching with interest ... my 1.2 mill points might be in my SQ account quicker than i think

 

[madmouse58]

just moved 540k points to krisflyer myself as soon as I heard this.

 

[Dannyism]

Be alert not alarmed...

 

[trippin_the_rift]

just moved 540k points to krisflyer myself as soon as I heard this.

A 'run on the bank' with everyone transferring points out to KrisFlyer would cripple Velocity in an heartbeat.
Must say - I feel uneasy with a velocity balance. Especially with the junk offers they send me - says to me they're not good at monetizing their data.

Just moved 75% of my Velocity balance out to Krisflyer

 

[Foreigner]

What's 1m velocity points in KF miles?

 

[Bodie]

Another article I saw today was virgin getting $425mil from its biggest shareholders, ie air new zealand, singapore and eitihad, supposedly to assist with debt restructuring due to $164mil loan they had amongst other things.

Its bit of concern when they have already sold 30% stake in its frequent flyer program and already did capital raising to cover the $90mil previous loans from big three.

Mrs Bodie doesnt have the balance of others on here, but 160 000 isnt something want to get "enhanced" away.

 

[trippin_the_rift]

What's 1m velocity points in KF miles?

Lots of Krugg and Sweet Sleeping!
You can't use VA points to book Singapore Suites and that in itself is a good reason to get them out of VA IMO.

 

[pauly7]

Air NZ have been very critical of VA's strategy and lack of profit, so I guess not tooooo surprising!

 

[deepblerg]

C'mon guys. Transferring out to KF just because of this? VFF only recently adjusted points tables. They can't mess with them too much, or they risk pissing off all points holders and it would be seriously downhill from there.

 

[deva22]

Yeah, I'm not concerned. Got 300K sitting there, not too stressed about it

 

[Jousams]

Got 230k, seriously considering sending them to KF.

 

[moa999]

A 'run on the bank' with everyone transferring points out to KrisFlyer would cripple Velocity in an heartbeat.
Must say - I feel uneasy with a velocity balance. Especially with the junk offers they send me - says to me they're not good at monetizing their data.

Just moved 75% of my Velocity balance out to Krisflyer

Note that Velocity is already part owned by a private equity firm

 

[AustraliaPoochie]

I remember AN with sadness.
This news brings back memories.
It probably won't go the way of AN, but yeah, not good news.

 

[Punky]

Virgin won't be going away - there owners have changed a few times in the past.....I would keep an eye on Singappore or, more likelyy, Etihad, having a tilt at a takeover...

 

[Foreigner]

Would be interesting if there was play over VA and Virgin America which is reported to be looking for buyer.

 

[mlob]

Reading with interest as have 1 mill plus in account. Don't Kris expire after a certain length of time?

 

[Foreigner]

Reading with interest as have 1 mill plus in account. Don't Kris expire after a certain length of time?

Three years